Bankruptcy in Toowoomba - Who exactly do I speak to?

Should I get in touch with my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anyone knows your financial circumstance well in Toowoomba, It's going to be your accountant. However, the short answer is a resounding No! It's not that your accountant won't have your best interests at heart when it comes to Bankruptcy, it's that his specialization lie in helping you save you money at tax time, minimizing your tax liability and lodging your BAS.

Most accounting degrees will put in very little to no time on insolvency, it's generally performed as a post graduate specialty course for those who want to work in the field. Unless your accountant is an insolvency specialist, he wouldn't know that a lot about the effects of Bankruptcy, I can guarantee you insolvency specialists know much about tax returns or BAS in. If you do manage to find an insolvency accounting firm in Toowoomba, they have the tendency to be large firms with very nice offices who charge accordingly.

Should I consult my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Toowoomba but more than likely it won't do you much good. Solicitors are definitely good at undertaking things lawyers do, like assisting you do your Will and buying your house and trying to keep you out of court if you're lucky. When it concerns Bankruptcy, the specialists in Toowoomba typically have either a legal or accounting experience, and the main reason for that is simply that you can't enrol in the post graduate study to become a qualified insolvency practitioner unless you have a law or accounting degree.

Just as there are a small number of insolvency accounting firms, there are very few insolvency legal practices in Australia, and yes if you find one you will pay an ample price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are plenty of financial counselling services to assist you through this, they have no hidden agendas and they're a fabulous option for helping you analyze your situation when it comes to Bankruptcy. If you find yourself freaking out constantly, not sleeping, not eating or over-eating and thinking of money pressures all the time, then get some help.

There are also charities around Toowoomba like Lifeline that offer an excellent service. They will be a sounding board if you just need somebody to talk about with you what your choices are. Don't let your financial trouble destroy your life - ultimately it's just money.

If you wish to learn more about what to do, where to turn and what problems to ask about Bankruptcy, then feel free to call Bankruptcy Experts Toowoomba on 1300 795 575, or visit our website: www.bankruptcyexpertsToowoomba.com.au.